AUSTIN (January 13, 2013)--After decades of dire warnings about Texas' growing demand for water, the state's leaders are getting serious about funding the State Water Plan.

Gov. Rick Perry, Lt. Gov. David Dewhurst and House Speaker Joe Straus are all supporting creation of a $2 billion fund to finance water projects, but only after the state experienced its hottest year on record and the worst one-year drought in the state's history.

In an unintended irony, they want to tap the Rainy Day Fund to deal with the state's lack of water.

If the measure makes it into law, though, experts warn it will be only a drop in the bucket.

The State Water Plan says the state will need to spend $263 billion over the next 50 years to keep water flowing.